HighTower Advisors LLC Cuts Stock Holdings in Warner Bros. Discovery, Inc. (NASDAQ:WBD)

HighTower Advisors LLC decreased its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,194 shares of the company's stock after selling 77,226 shares during the quarter. HighTower Advisors LLC's holdings in Warner Bros. Discovery were worth $2,444,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Warner Bros. Discovery by 4.1% during the 3rd quarter. State Street Corp now owns 151,285,963 shares of the company's stock valued at $1,248,109,000 after buying an additional 5,898,611 shares in the last quarter. Amundi lifted its position in shares of Warner Bros. Discovery by 108.1% in the fourth quarter. Amundi now owns 10,151,114 shares of the company's stock valued at $102,120,000 after acquiring an additional 5,272,717 shares in the last quarter. Pine Valley Investments Ltd Liability Co bought a new position in shares of Warner Bros. Discovery in the fourth quarter worth about $23,825,000. Coronation Fund Managers Ltd. grew its position in shares of Warner Bros. Discovery by 54.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 5,644,290 shares of the company's stock worth $59,660,000 after purchasing an additional 1,981,050 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its stake in Warner Bros. Discovery by 110.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 3,422,929 shares of the company's stock valued at $28,239,000 after purchasing an additional 1,793,404 shares during the period. Institutional investors own 59.95% of the company's stock.

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Insider Activity at Warner Bros. Discovery

In other news, Director Piazza Samuel A. Jr. Di acquired 17,346 shares of Warner Bros. Discovery stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $11.41 per share, for a total transaction of $197,917.86. Following the acquisition, the director now directly owns 159,932 shares of the company's stock, valued at $1,824,824.12. This trade represents a 12.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Warner Bros. Discovery Trading Up 0.5 %

Shares of WBD stock traded up $0.05 on Wednesday, reaching $11.03. 32,200,539 shares of the company's stock were exchanged, compared to its average volume of 30,460,984. The company's fifty day simple moving average is $10.45 and its 200 day simple moving average is $9.65. Warner Bros. Discovery, Inc. has a 52 week low of $6.64 and a 52 week high of $12.70. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $27.08 billion, a PE ratio of -2.41, a P/E/G ratio of 8.64 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.30). The business had revenue of $10.03 billion for the quarter, compared to the consensus estimate of $10.16 billion. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. As a group, analysts forecast that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on WBD shares. Moffett Nathanson raised shares of Warner Bros. Discovery from a "neutral" rating to a "buy" rating and increased their price objective for the company from $9.00 to $13.00 in a report on Tuesday, January 21st. Bank of America restated a "buy" rating and set a $14.00 target price on shares of Warner Bros. Discovery in a research report on Thursday, December 12th. The Goldman Sachs Group lifted their price target on shares of Warner Bros. Discovery from $9.50 to $10.75 and gave the company a "neutral" rating in a report on Thursday, December 19th. Benchmark reissued a "buy" rating and set a $18.00 price objective on shares of Warner Bros. Discovery in a report on Wednesday, February 26th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $13.00 target price on shares of Warner Bros. Discovery in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Warner Bros. Discovery has an average rating of "Moderate Buy" and an average target price of $11.91.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.